PAPER I – INDIAN ECONOMY & INDIAN FINANCIAL SYSTEM MODULE A: INDIAN ECONOMIC ARCHITECTURE An Overview of the Indian Economy: Evolution, Structure & Key Milestones India, with its vast geographical expanse and demographic diversity, has one of the most dynamic economies in the world. From a historically rich trading civilization to a rapidly modernizing economy, the journey of the Indian economy has been shaped by centuries of change, policy shifts, and global events. In this post, let’s explore the evolution, characteristics, and structural transformation of the Indian economy in detail. 1. Evolution of the Indian Economy a) Pre-Colonial Era (Before 1757) India was once known as the “Sone Ki Chidiya” due to its flourishing trade and self-sufficient villages. Agriculture, handicrafts, and trade dominated the economy, with cities like Surat and Madras emerging as global trade hubs. b) Colonial Rule (1757–1947) The British colonial period brought ma...
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